Original URL: https://www.theregister.com/2006/06/07/hp_q2_earnings_update/

HP in tax bonanza

Q2 earnings update raises expectations

By Christopher Williams

Posted in Channel, 7th June 2006 10:31 GMT

HP has issued a Q2 earnings update, hiking earnings and profits following a favourable settlement with the taxman.

Revenue was boosted $443m last quarter by the deal with the IRS over an audit of HP's 1996 to 1998 tax returns. The $1.5bn net income HP reported last month rose to $1.9bn on the back of the settlement.

HP's Q2 profits were $2bn, up from the earlier reported $1.6bn.

Per share earnings for fiscal year 2006 are now estimated at $2.04 to $2.06 , up from $1.87 to $1.91. More from HP here